EU Natgas Prices Hold Decline

2026-03-11 07:26 By Judith Sib-at 1 min. read

European natural gas futures rose to €48/MWh on Wednesday but held onto most of the previous session’s losses as the IEA is reportedly proposing the largest ever release of oil reserves to curb rising energy prices.

If implemented, this would surpass the 182 million barrels that IEA members injected into the market in 2022 following Russia’s invasion of Ukraine.

Prices have declined 16% on Tuesday after President Trump suggested the Iran war could end sooner, while G-7 finance ministers said they are prepared to tap strategic reserves if needed.

Still, market caution persists as the Strait of Hormuz remains closed, and production at Qatar’s LNG facilities has been suspended.

Analysts warn that the halt in Qatari production could erase most of the global LNG supply surplus projected for 2026.

The situation is critical for Europe, as its gas storage levels are currently below 30%, and it will need to import substantial volumes this summer to replenish reserves ahead of next winter.



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